Member Info for Bebeto

LW,

I meant I'm not bothered at this moment in time, I haven't ignored them (if it's what I think it is about a family member).

There's a whole host of things that need to play out and then we can see the direction of things.

I'm beginning to think that some people are in so deep they have no choice but to publicly display a positive attitude towards RM.

The rest of the world can see the gravity of the situation and the possible collision course.

I'm not bothered about old articles, we should be calling for an EGM and have the BoD removed before the pending car crash happens.

He's raised over £2.6m in the last 10 months and the company is still in financial difficulties.

This listed at 1p and since then the company has been in decline.

I doubt he will ever to be in a position to say any of the statement below again, such a poor performance why shareholders even put up with it is beyond me. As none of anything he's promised has come to fruition.

RNS 8th October 2021

Robbie McCrae, CEO of Caracal, said, "Our focus at Caracal is on rapidly delivering on our strategy of becoming a +50,000oz p.a. producer and building a JORC compliant resource base of +3Moz within the next 12-18 months. Whilst we will continue to increase production at our Kilimapesa Gold Mining and Processing Operations, in parallel with this we will be focused on our aggressive acquisition strategy and on our exploration activities on our mining and prospecting licenses at Kilimapesa where the potential to increase our resource base is significant.

CSS Alpha Global Pte Ltd has a debenture which includes a legal mortgage over the assets & properties of Caracal Gold Plc.

I'm expecting the company to possibly call another general meeting at some point, for a vote to increase the prospectus share issue as it looks like they've already pre-issued the original amount that was voted on.

I just not buying the funding is in the final stages of completion because there's been no heads of terms agreement (non-binding) and any potential corporate funder would want to see the audited financials as part of their due diligence.

The independently verified mine plan is also a must but there's also several passes between legal teams needed to draw up the terms.

There's nothing contained within the latest update to suggest funding is close but rather it is needed near-term and they are also exploring other options, which suggests the funding is NOT close.

The current production grades are consistent with the grades from 2 years ago, even though they are slightly lower.

The ounces produced is also lower and the jury is still very much out on the heap leach (from the limited information given).

Bonkers0801, there's several posters here that totally fell for everything the CEO was saying and they over invested as well as encouraging their family & friends to do the same.

They don't like anyone saying anything negative, even when it's so plainly obvious, they specialise in discrediting other posters and try their very best to intimidate them from posting again.

Might work with some people but not me as I strongly believe in everyone is entitled to air their views and respect opposite views by others.

'The timeline on the audit and recommencement of trading is driving the timeline on the expansion funding.'

The above is because any potential corporate lender would want to complete their due diligence before making or agreeing an offer, which also suggests that any funding is NOT as close to being finalised as touted on here.

'We have continued to engage with possible JV partners for or on a sale of our assets in Tanzania.'

Said all along it was a complete waste of resources (money & shares) we paid around $3.3m if they could get that money back, it would really help the near-term situation.

From the two most recent updates basically covering Q1,

Estimated total gold production is around 700 ounces, The heap leach process contributed nearly 60 ounces to the overall production.

Additionally, the overall grades have decreased, as indicated by the lower average gold grades and strip ratios reported in the updates.

The above suggests a decrease in the overall quality of the ore being processed.

There is no mention of high-grade material in the provided information.

Good to have a type of a production update though.

Ideally it would come back fully funded otherwise big holders could offload and use their losses as a tax benefit.

So there's always a silver lining for some in this game.

'More than one HNW individual have put a lot of their bed earned cash into this over the last several months, HNW’s don’t do this unless they have information to hand that assures them they’ll get a good return.'

High Net Worth (individuals /investors) are not to be confused professional companies (and companies lose a lot of money also) and therefore have a much lower bar for making an informed investment.

For Example :

These guys below took a big hit in GCAT and it damaged their own reputation in the process

RNS 14th February 2022

The appointment of Clear Capital Markets, the UK-based stockbroker and wealth manager, follows the completion of an approx. £2 million capital raising, which included £300,000 received from an existing major shareholder at a price of 1.25 pence per ordinary share, and the placement to clients of Clear Capital Markets, as announced earlier today.

'They have 1.3m oz resource,'

This is exactly the smoke and mirrors play the company puts out and investors buy it.

GCAT group resources are 1.365Moz

Kilimapesa is actually 706Koz (inferred)

Tanzania (5yrs min from being mined) 658Koz

Inferred is the lowest form of confidence in the JORC code.

Here's the proof they believed in 2Moz + and it never came to fruition.

RNS 21st December 2021

Focus is on rapidly increasing the current JORC compliant resource of approx. 670,000oz to > 2Moz through a two-pronged approach:

· An initial 16 hole, 3,000m DD programme on the Mining License.

· A regional 10,000m RC campaign on the broader Prospecting License, both on the recently identified Southern Mineralised Zone ("SMZ") as well as on other identified targets.

· First assay results from the drilling programme are expected in late Q1 2022.

TheMoss,

Agree very much so, originally the company had pinned a lot of hope on the Kilimapesa resource containing upto 2Moz but they barely moved the dial to 700koz on the lowest confidence of JORC.

The production grades from the very start, were also misleading as pointed out by Andrew Bell CEO of RRR.

All of the above gave the impression of the company being bigger than it actually is and now nearly 3yrs on the company is even more reliant on funding, which in turn gives all the power away.

It doesn't help having a CEO with zero experience of running a UK listed company and is totally out of his depth.

LW,

Yesterday's RNS should have contained some current production information as per the previous update.

The bottom line is year on year the financial situation is getting worse, the company needs significant funding and in the meantime significantly increase production from the 100 to 200 ounces per month.

Without either of the above, the audit will be meaningless in time.

As for the little fish, they've most likely over invested here and encouraged friends & family to join them, seen it all before whenever you know someone who has access to the boardroom on a small cap company, people let their guard down, join a telegram group and believe everything they're told without question.

Last thing they want to hear is the king isn't wearing any clothes.

They are currently paying a loan back using 50% of FCF and also repayments of a mortgage has now started.

RM has been trying to source significant funding for the last two years, I doubt this will return without funding secured.

And that's a perfect example of a little fish not interested in talking about the company/ share.

Swampmonster,

I'm here to gain a knowledgeable reasoned debate on a share I am invested in.

I don't care if you're for or against RM or anyone else.

I keep putting out the bait and most of the time little fish reply but every now and then a large knowledgeable fish comes along, which makes the whole thing worthwhile :)

Other posters are just collateral and if they don't like it then feel free to use the filter option, even though they might learn something.

Everyone is entitled to air their views, some a far more researched than others but we are free to make our own minds up without fear or intimidation.

Netbox please use your filter option as you clearly don't know the difference between a question and an accusation.

Sorry but you're not my target audience but thanks for your input and good bye :)

Sorry I'm not privvy to that information, it will come out in either of the next two audited financials for everyone's perusal.

It's a fair question as we are still for the funding.

Report away!!